Mercedes-Benz reports 38pc drop in sales for Q3

German luxury car maker Mercedes-Benz on Wednesday reported a 38.64 per cent drop in its sales at 2,058 units in India in the third quarter of the ongoing year but almost reached its pre-COVID sales level.

The company had sold 3,354 units in the July-September quarter last year.

Mercedes-Benz India said it is witnessing a V-shaped recovery of sales based on the Q3 performance, pointing to the beginning of a good festive season.

The Q3 sales also almost reached pre-COVID level for the first time since lockdown. In the first quarter of 2020, sales were at 2,386 units as against 3,885 units in the year-ago period, down 38.58 per cent, the company said.

Commenting on the sales performance, Mercedes-Benz India Managing Director & CEO Martin Schwenk said,”We are glad to witness a strong comeback in the course of the last quarter, with a significant increase from month-to-month within the third quarter.” This performance is a result driven by the companys new product introductions, rolling-out of attractive financial packages, combined with the gradual pick-up in business and economic activities that has positively influenced customer sentiment, he added.

“We are confident, the upcoming festive season will deliver further momentum for the recovery of our sales development. We remain optimistic for the fourth quarter as the current demand situation and the feedback of the customers for our products is very positive,” Schwenk said.

In the January-September period, Mercedes-Benz India clocked 5,007 units as against 9,951 units, down 49.5 per cent. Mercedes-Benz India said it has strengthened its online offering in view of the current situation due to the coronavirus pandemic.

In the July-September 2020 period, Mercedes-Benz India online car booking contributed up to 20 per cent  of sales volume, underscoring the growing prominence of online sales platforms and the changing consumer preference for online shopping, the company added.

“Mercedes-Benz India expects a significant part of its total sales to be completely online by 2025. Customers can avail new as well as pre-owned Mercedes-Benz cars online,” it said adding that all of its dealers in the country are already part of the portal and enabling customers in their online buying journey, including delivery and complete services support.


(Except for the headline, this story has not been edited by The Federal staff and is auto-published from a syndicated feed.)

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